A common crypto investment strategy for beginners is to focus on the per-coin price of each cryptocurrency, viewing Bitcoin as very expensive and very cheap cryptos as more likely to have high earning potential.
Even though it is possible to buy a fraction of Bitcoin, for example, 0.1 BTC for a few thousand dollars, or even just a few Satoshis, retail investors often feel that they have ‘missed the boat’ on Bitcoin, due to its high price now.
It is tempting to want to own a lot of cryptocurrencies or tokens at low prices, in the hope that the altcoin project they invest in will become ‘the next Bitcoin’. Finding ‘the next Bitcoin’ can be pretty hard since there are a lot of great projects out there. That is why crypto launchpads serve the purpose to make that easier. BTC started trading at a price of less than $2 in its early days in 2010 before reaching its current all-time high of over $69,000 in late 2021.
Top cheap cryptocurrency to buy – XRP?
One popular altcoin that has always been a cheap cryptocurrency to buy is XRP – even though it has been around for almost as long as Bitcoin. Ripple Labs was founded in 2012.
For example, you can invest in Ripple today and own around 5,000 XRP at the current exchange rate for the price of 0.1 BTC. A better question is to ask what is the best cheap cryptocurrency to buy due to the percentage increase, or ROI (return on investment) possible rather than specific prices. XRP is unlikely to reach $69,000 as it has a much larger supply.
The total supply of mineable Bitcoin is finite, at 21 million, of which around 19 million are currently in circulation, according to Coinmarketcap. This is a low number for cryptocurrency, explaining the high price of a Bitcoin. The circulating supply of XRP, however, is around 47 billion out of a total supply of 100 billion, which is why it is a cheap cryptocurrency – the more coins, the lower the price per coin. Supply and demand.
Currently the 6th largest cryptocurrency in 2022 in terms of market capitalization, XRP would surpass Bitcoin in the market cap if it increased 20x the current point price ($0.77), to around $15. The market cap of XRP’s current price – $37 billion – is about 20 times smaller than Bitcoin’s – $715 billion.
So not only is XRP unlikely to be worth $69,000 per coin, but it is also unlikely to be worth $15 (or $589, as some in the Ripple community predict, partly as a joke), as at that price it ‘invert’ BTC, i.e. surpass Bitcoin’s market share in the cryptocurrency market. No cryptocurrency has managed to do this, although some high-profile traders have made predictions that Ethereum could make in 2022.
Best cheap cryptocurrency to buy 2022 – Top 4 List
Even if no cryptocurrency turns Bitcoin into ‘the next Bitcoin’, it is still possible to get rich or make life-changing profits by finding the best cheap cryptocurrency to invest in. Altcoins can increase hundreds or thousands of percentage points in value. These are very volatile financial assets.
So which altcoins should you choose for 2x, 3x, 10x, and even 100x gains? Why, when, and where to buy cheap cryptocurrencies are also important factors.
One of our coin picks is a brand new project available on a lesser-known decentralized exchange (DEX), one is tied to a new emerging asset class in the crypto space, and the others have bullish narratives current in 2022 and are at a price short. price compared to its all-time high.
Solana (SOL) rose in value from under $3 to an ATH of $260 at the end of 2021. One of the most popular altcoins, it is now under $100, currently trading at $90 today, a good deal. time to ‘buy the dip’ as a long-term investment.
The SOL community sees it as a potential ‘Ethereum killer’ that could change the market value of ETH, realizing its use case in a more efficient way with a much faster rate of transactions per second and more ‘gas rates’. casualties.
Solana was recommended on a viral Twitter exchange by FTX CEO and billionaire Sam Bankman-Fried, who thanks to his success in crypto is now the 32nd richest person in the world according to Forbes Rich List. Having the endorsement of a cryptocurrency billionaire is high praise.
Solana can also be staked on the Huobi exchange for an estimated 3.5% APY (annual percentage yield), so you can make money and outperform most bank savings accounts while holding it, even if it doesn’t increase in value and stays. stable.
An exciting new asset class emerging to exit cryptocurrency is NFTs (non-fungible tokens). As NFTs and cryptocurrencies are slightly different, holding some cryptocurrencies related to NFTs can be a good hedge against cryptocurrencies – if it fails, there should still be a use case for NFT-related coins and tokens.
Decentraland is a platform powered by the Ethereum blockchain network that allows users to build, create and develop works of art in the form of NFTs, and its associated cryptocurrency is MANA.
Interest can be earned on MANA holdings on Crypto.com – again generating a source of income even if the price of MANA does not go up. However, MANA has plenty of room to grow, being a cheap cryptocurrency – currently priced below $3, with an ATH of $5.90.
‘Is Ripple a good investment’ has been a common question over the decade since its launch. Shortly after the 2017 bull run, XRP hit its ATH of $3.84 in January 2018, at one point being the 2nd largest cryptocurrency by market cap (now 6th).
Since then, many have lost interest in it as it has dropped below $1 and hasn’t moved much in recent years. The bullish case for XRP in 2022, however, and the main reason we consider it potentially a good investment now, is that there are signs it could soon win its lawsuit against the SEC, possibly in April 2022. for investor confidence in XRP to improve and for the cheap cryptocurrency to retest its previous highs and market cap.
The annual opening price of XRP 2022 was $0.83, against an annual opening price of $0.22 in 2021. Therefore, the return on investment (ROI) of holding XRP until 2021 was just under 400%, outperforming Gold (which lost 4% for the year), the S&P 500, and the least-cheap cryptocurrency Bitcoin (which gained over 50%).
Lucky Block aims to build a worldwide crypto lottery platform that solves the problems faced by fiat currency lotteries and makes them more accessible. Holders of LBLOCK tokens can also receive jackpot redistributions as an incentive to hold, earning passive income even if the project remains at a stable price.
LBLOCK tokens are also less than a month old – launching trading on Pancakeswap DEX on January 26, 2022. So there is room for growth. When considering where to buy cheap cryptocurrencies (LBLOCK is still less than 1 cent), Pancakeswap is a good choice as cryptocurrency projects are less well known. Cheap cryptocurrencies on smaller exchanges often go up when they are listed on larger cryptocurrency exchanges.
Some more information on why it is potentially the best cheap cryptocurrency to buy is covered in this article. Its market value is still just under $1 billion. Unlike SOL and XRP, which are the top 10 market cap projects (and MANA, which is the 30th), LBLOCK is ranked #2863, making it a very cheap cryptocurrency to buy.
How to buy cheap cryptocurrencies
SOL, MANA, and XRP can be safely purchased on the FCA eToro regulated cryptocurrency exchange, or on Huobi and Crypto.com, where you can earn income on SOL and MANA in the form of cryptocurrency interest or staking rewards.
LBLOCK can be purchased on Pancakeswap, where many altcoin ‘gems’ began trading at cheap prices before rising in value later on once listed on major cryptocurrency exchanges. Read a guide on how to buy cryptocurrencies on Pancakeswap on the LBLOCK website.